Filip75

I've got this question, but since it's holidays, dealer is closed and can't answer me. So I turn to you guys.

Background info:
05 TL, leased for 4 years (48 months), with 12K a year limit. Drive 17-18K a year

I've been thinking about getting extra warranty for the car, since I should run out by the fourth year of driving it. I talked to my friend about it and he said that as long as you're leasing, the warranty can't really expire, since the car belongs to the company and not you. He had that experience with Range Rover, Mercedes and Lexus, since he never had an Acura.

Is that true?

And how much is the extra mileage on Acura lease? Is it like $.12 -$.14? I figure I'll owe somewhere between $2,500 and $4,000 at the end

frainc

The warranty states; 4 years or 50,000 miles, whichever comes first. So your milage will come first. Do like I did, get another Acura before your 4 years is up. If you trade in about 3 1/2 years, they will work with you because your getting another Acura from them, if that's the new car you want.

My dealer paid off 5 months of my TL when I got a new 05 MDX. Of course this was my 4th. Acura from this dealer and salesperson.

Accuratesignings

Once the warranty on the car expires, milage or years...whichever comes first, as long as you are in possession of the car, you are responsible for all repairs to the car. Under the terms of your lease you must keep the car in "working condition." When you trade it in, or bring it back when the lease expires, you will be responsible for all milage over your agreed amount.

When you negotiate a lease you can request additional milage at an additional cost.

I leased my 2nd car, thinking it was a good move, and it was the worst move I ever made. The payment was no less than financing the car, and when it was close to the time that the lease was to expire, I purchased the car on a 5 year loan making it an 8 year obligation to this car. I had to buy the car as I was moving cross country. I traded it in when it needed a couple of thousand dollars of work, and I didn't have an extended warranty. I was also $3000 upside down. It took one trade on a 6 year obligation, with 3 years on the note, and a second car with just over 2 years on a 5 year note to get out from being upside down. The second car kept my payment the same, but the time on the obligation was less, the second car was on a 5 year note, the one before that was a 6 year note. Now, finally, after 5 years, I have a car with equity.

Bottom line: I will never lease a car again. However, if you own a business, then it might be financially worthwhile to lease, but I will choose not to.